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What is the contract address?
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What is the CA and the blockchain that LITR uses?
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Anyway, you might want to open a formal announcement thread for your platform. Having a copper membership might also help in the presentation.
Good suggestion, thank you. I'll get the copper membership. Good luck to all of you from graviex.net. |
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From reading the previous post about graviex.net, one of the things that people liked about the exchange was that it had trading pairs of coins that most other exchanges don't have.
For those of you who bought coins there that aren't available on other exchanges, please let me know and I'll add them to Firetrade.
Like graviex.net, Firetrade doesn't have a lot of volume yet (we're new), so I can't promise that every coin will immediately have great trading volume.
But I'll do whatever I can do to help.
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Starting next Monday, I'm going to start making new coins and trading pairs available.
Each Monday I'll try to release at least 10 new coins/pairs.
If anyone has any recommendations of coins they'd like to be included in the list, please let me know.
At the moment, I'm adding ERC-20 (Ethereum) and SPL (Solana) tokens.
Thanks!
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Among the many things that we've been working on at Firetrade, one of them is this: All new accounts will get 5 USDC for free. Now everyone can do a little bit of trading and see how they enjoy it. And if they lose the 5 USDC, it's no big deal, because it's free money. If you're looking for a new exchange with low fees, I hope you'll give us a try. Thanks, everyone! https://www.FiretradeEx.com/ |
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Very good question, hugeblack.
I'm going to change the sign-in process to allow users to show their photo ID only when they want to withdraw. That seems to be the process that a few other US-based companies are following.
I wish the laws were more clear in the United States. Every state is different and every state has their own opinion about whether or not digital assets/cryptocurrencies qualify as money with respect to money transmission.
I registered as a money transmitter, but Firetrade only deals with cryptocurrencies at the moment. In the future, I do plan do get additional licenses for fiat, but those licenses are expensive.
I appreciate this information, hugeblack. Can you post some exchanges that have registered MSB activities other than "Money transmitter"? I'd be interested to see how they registered.
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Great advice, PX-7, thank you.
I'm going to try to focus on those things over the next several months.
1. I'm going to try to add new features on a regular basis. I have a long list of things that I'm planning to add over the next several months.
2. I'm hoping to have the best rates available. I know that sometimes exchanges raise rates, and maybe I'll have to do that sometime in the future, too.
But I'm going to let anyone keep the rates at which they joined with. For example, if someone joins with a 0% rate and then the rates are raised to, say, 0.1%, the user can continue using the 0% rate.
You make a great point about volume. With Firetrade having lower volume than other leading exchanges, I'll need to compete with competitive rates.
3. For marketing, I have several plans for this in the near future. I wish that I had an unlimited marketing budget, but for now, I'm going to try to be strategic with marketing. You are definitely right, marketing can't be underestimated.
Thanks!
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Great questions, Trêvoid.
1. From looking at some other mid-size exchanges, their solution for this is to sometimes buy an insurance fund (the fund would only cover losses up to a certain amount).
At the moment, Firetrade does not have revenue, it just opened to the public yesterday.
As soon as Firetrade has the revenue to purchase an insurance fund, I'm going to purchase it. When I do that, I'll post the information here and on the front page of Firetrade.
My goal is to eventually cover 100% of user funds, not just a percentage of it.
2. If a user account violates AML/KYC policies, trading and deposits will be disabled. The user will still be able to withdraw their funds, except in cases where we are legally prohibited from allowing withdrawals from that account.
In other words, we'll do everything we can do to make sure a user can get their deposits back, but if we're being told in a specific case that we can't allow withdrawals without facing legal consequences, then there's not much that we can do at that point.
I think that's the moral and ethical way to approach that issue. I'm open to listening to other viewpoints.
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Great suggestions, tabas, thank you.
I'll get those 2 things updated soon, hopefully within the next few days.
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I've made some initial updates to the landing page. I'll continue enhancing the public-facing pages over the next several days. If anyone has any opinions or recommendations, please let me know. Thanks! https://www.firetradeex.com/ |
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